Obiettivo Innovative work has been carried out on exchange rates, interest rates, macroeconomic policy coordination and monetary integration in Europe. The behaviour of trade unions within the European Community has been investigated and an international version has been established for the European Community of the hump shaped relationship found between corporatism and the degree of trade union centralization on the one hand and unemployment on the other hand. The best and most likely response of trade unions to the liberalization of European markets has also been investigated. Work on testing for the intertemporal solvency for the United States government has been refined and some appropriate econometric tests have been developed for this purpose. This work will be extremely useful in drawing theoretical and empirical conclusions about the fiscal preconditions that have been agreed upon at the recent Maastricht summit on the Economic Monetary Union (EMU). Some theoretical work has been completed on an integration of stabilization and public finance (solvency) theories of budgetary policies. Work on exchange rate bands and target zones involved research on stochastic learning about regime shifts and an investigation of the scope for monetary accommodation and exchange rate intervention within the bands. It was found that when the analysis is conducted within a framework that allows for nominal wage rigidities and involuntary unemployment, it is possible to get a hump shaped rather than a U-shaped curve for the conditional exchange rate distribution. Previous models of exchange rate bands contradicted this latter stylized empirical fact.The joint research network will bring together researchers to work on macroeconomic policy and monetary integration in Europe. Most of the research activities will take place during visits at the CentER for Economic Research, Tilburg University. The proposal involves both theoretical and empirical research. The theoretical research will be primarily concerned with the implications of increased monetary integration in Europe for the scope and need for European coordination of fiscal policies and, more specilically, whether harmonisation and convergence of fiscal policies is a good thing. The question of whether increased monetary integration will also necessarily mean less autonomy for the treasuries of national member states will also be addressed. The empirical work will, in part address these issues, but will also pay a lot of attention to the econometric modelling of intra-European exchange rates paying careful attention to bands and intervention policy. Campo scientifico social scienceseconomics and businesseconomicseconometricssocial scienceseconomics and businesseconomicsmacroeconomicssocial scienceseconomics and businesseconomicsmonetary and financessocial sciencessociologysocial issuesunemployment Programma(i) FP2-SPES - European stimulation plan (EEC) for economic science (SPES), 1989-1992 Argomento(i) Data not available Invito a presentare proposte Data not available Meccanismo di finanziamento CSC - Cost-sharing contracts Coordinatore TILBURG UNIVERSITY Contributo UE Nessun dato Indirizzo Warandelaan 2 5037 AB TILBURG Paesi Bassi Mostra sulla mappa Costo totale Nessun dato Partecipanti (2) Classifica in ordine alfabetico Classifica per Contributo UE Espandi tutto Riduci tutto UNIVERSITAET-GESAMTHOCHSCHULE-SIEGEN Germania Contributo UE Nessun dato Indirizzo Herrengarten 3 SIEGEN Mostra sulla mappa Collegamenti Sito web Opens in new window Costo totale Nessun dato UNIVERSITY OF SOUTHAMPTON Regno Unito Contributo UE Nessun dato Indirizzo University Road, Highfield SOUTHAMPTON Mostra sulla mappa Costo totale Nessun dato